Drummond, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Drummond, Ontario, is currently experiencing a steady increase in property values. The median house price sits at $500,000, with a year-over-year growth rate of 3.5%. This consistent uptick suggests a healthy demand for detached homes within the market. The apartment sector shows a more modest growth pattern with the median apartment price tagged at $300,000 and witnessing a 2.1% year-over-year increase. Both housing types are benefiting from the overall economic stability in Drummond.
Drummond’s population has seen a notable rise of 7.1%, pushing the current figures to approximately 15,000 residents. This influx of new residents is likely contributing to the sustained demand for housing and helps explain the current market buoyancy.
2. Investment Opportunities and Potential
Given the solid growth trends in both housing price and population, investment opportunities within Drummond’s real estate market appear promising. Investors can anticipate continued appreciation in property values due to the steady population growth which tends to drive demand for both rental and owner-occupied properties.
The more significant year-over-year price increase for houses compared to apartments indicates that single-family homes may present a higher potential for capital gains; however, apartments could be an attractive option for those looking to enter the market at a lower price point or seeking properties with potentially lower maintenance requirements and higher tenant turnover rates.
3. Future Market Outlook
The future outlook for Drummond’s real estate market remains positive based on current trends and demographic data. With an upward trajectory in housing prices and population growth, demand for residential properties is expected to remain robust. The region’s economic drivers need to be monitored as they will play a crucial role in sustaining long-term growth and ensuring that investment returns remain attractive.
The ongoing development of local amenities and infrastructure projects could further enhance property values by improving the quality of life in Drummond, making it an increasingly desirable place to live.
In conclusion, careful attention should be paid to local economic conditions, interest rates, and regional development plans as these factors will significantly influence Drummond’s real estate trajectory moving forward.
